US based Chesapeake Energy has monetized certain of its producing assets in the Barnett Shale.
The company has sold a five-year volumetric production payment (VPP) to an affiliate of Barclays Bank for $1.15bn.
The transaction includes approximately 390 billion cubic feet of proved reserves and approximately 280 million cubic feet per day of net production in 2011.
Chesapeake has retained drilling rights on the properties below currently producing intervals and outside of existing producing wellbores.
Since December 2007, the company has completed eight VPP transactions and monetized about one trillion cubic feet of natural gas equivalent of proved reserves for combined proceeds of approximately $4.7bn, or about $4.70 per thousand cubic feet of natural gas equivalent.
Chesapeake focuses on discovering and developing unconventional natural gas and oil fields onshore in the US.